Pfizer (NYSE:PFE) Stock Price Down 0.7% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price was down 0.7% during trading on Monday . The stock traded as low as $26.22 and last traded at $26.30. Approximately 35,146,711 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 35,869,448 shares. The stock had previously closed at $26.49.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PFE. Guggenheim reduced their price objective on shares of Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Bank of America reiterated a "neutral" rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a "neutral" rating and a $30.00 price objective for the company. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price on the stock. Finally, UBS Group decreased their target price on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

Pfizer Stock Down 0.7 %

The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $149.06 billion, a PE ratio of 35.55, a PEG ratio of 0.64 and a beta of 0.64. The firm's fifty day moving average is $26.08 and its 200-day moving average is $27.99.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the business posted ($0.17) EPS. The company's revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities research analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is an increase from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer's dividend payout ratio (DPR) is 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company's stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the period. Marshall Wace LLP raised its holdings in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock valued at $150,481,000 after buying an additional 8,378,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock valued at $1,101,713,000 after buying an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Pfizer in the third quarter worth $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company's stock valued at $211,737,000 after acquiring an additional 4,546,809 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.